The United States Securities and Exchange Commission, or SEC, and the Commodity Futures Trading Commission, or CFTC, have called for comments on a proposal that would require large advisers to certain hedge funds to report exposure to crypto.
In a joint proposed rule published to the Federal Register on Sept. 1, the SEC and CFTC established a 40-day comment period for amendments to Form PF, the confidential reporting document for certain investment advisers to private funds of at least $500 million. The proposal suggested qualifying hedge funds report exposure to crypto in a different category other than “cash and cash equivalents,” as the current iteration of Form PR does not specifically mention cryptocurrencies.
Members of the public have until Oct. 11 to submit comments regarding the proposed changes, which the two regulators first introduced on Aug. 10. At the time, the SEC and CFTC cited the growth in the hedge fund industry as the reason for the proposed change, due in part...
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